Can I retire at age 63 with 2,380,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$196,538$194,788$193,080$191,412$189,785$188,194
2 years$97,296$95,484$93,728$92,025$90,374$88,771
3 years$64,220$62,400$60,648$58,961$57,337$55,771
4 years$47,685$45,871$44,136$42,478$40,893$39,377
5 years$37,766$35,963$34,252$32,627$31,086$29,624
6 years$31,156$29,367$27,680$26,092$24,597$23,190
7 years$26,437$24,662$23,003$21,452$20,004$18,653
8 years$22,899$21,140$19,508$17,996$16,596$15,301
9 years$20,148$18,406$16,802$15,328$13,976$12,737
10 years$17,949$16,224$14,649$13,213$11,908$10,724
11 years$16,151$14,443$12,896$11,499$10,241$9,112
12 years$14,654$12,964$11,445$10,086$8,875$7,798
13 years$13,388$11,715$10,226$8,905$7,739$6,714
14 years$12,304$10,649$9,188$7,905$6,784$5,810
15 years$11,365$9,728$8,295$7,050$5,973$5,048
16 years$10,544$8,925$7,521$6,312$5,279$4,402
17 years$9,821$8,220$6,844$5,671$4,681$3,850
18 years$9,179$7,595$6,247$5,111$4,162$3,376
19 years$8,605$7,039$5,719$4,618$3,710$2,967
20 years$8,089$6,541$5,249$4,183$3,314$2,612
21 years$7,623$6,093$4,828$3,796$2,965$2,304
22 years$7,199$5,688$4,450$3,452$2,658$2,034
23 years$6,814$5,319$4,108$3,143$2,386$1,799
24 years$6,460$4,984$3,800$2,867$2,145$1,593
25 years$6,136$4,677$3,519$2,618$1,930$1,411
26 years$5,837$4,396$3,264$2,394$1,738$1,252
27 years$5,561$4,137$3,031$2,191$1,567$1,111
28 years$5,305$3,898$2,818$2,008$1,414$987
29 years$5,066$3,678$2,622$1,841$1,277$877
30 years$4,845$3,473$2,442$1,690$1,154$780
31 years$4,638$3,283$2,277$1,552$1,043$694
32 years$4,444$3,107$2,124$1,426$944$617
33 years$4,262$2,942$1,983$1,311$854$550
34 years$4,092$2,788$1,853$1,207$773$489
35 years$3,931$2,645$1,733$1,111$700$436
36 years$3,780$2,510$1,621$1,023$634$388
37 years$3,637$2,384$1,517$943$575$346
38 years$3,502$2,266$1,421$869$521$309
39 years$3,375$2,155$1,331$801$473$275
40 years$3,254$2,050$1,248$739$429$245
41 years$3,139$1,951$1,170$682$389$219
42 years$3,030$1,858$1,097$629$353$195
43 years$2,926$1,771$1,030$581$320$174
44 years$2,828$1,688$967$536$291$155
45 years$2,734$1,609$908$495$264$139
46 years$2,644$1,535$852$457$240$124
47 years$2,559$1,465$801$423$218$110
48 years$2,477$1,399$753$391$198$98
49 years$2,399$1,336$707$361$180$88
50 years$2,324$1,276$665$334$163$78

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $2,380,000, adding $3,135 every year, while hoping to spend $28,304 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 90/5/5 Blend
62$2,380,000$2,380,000$2,380,000$2,380,000
63$2,625,994$2,499,854$2,462,964$2,862,541
64$2,863,730$2,592,231$2,515,358$3,109,080
65$3,124,766$2,688,187$2,568,558$3,375,849
66$3,411,450$2,787,866$2,622,563$3,668,295
67$3,726,366$2,891,419$2,677,367$3,988,989
68$4,072,363$2,999,006$2,732,966$4,340,764
69$4,452,577$3,110,791$2,789,353$4,726,740
70$4,870,466$3,226,945$2,846,522$5,150,355
71$5,329,836$3,347,648$2,904,464$5,615,393
72$5,834,883$3,473,087$2,963,167$6,126,025
73$6,390,230$3,603,456$3,022,622$6,686,844
74$7,000,968$3,738,960$3,082,814$7,302,912
75$7,672,707$3,879,810$3,143,729$7,979,803
76$8,411,630$4,026,227$3,205,350$8,723,658
77$9,224,546$4,178,442$3,267,660$9,541,244
78$10,118,960$4,336,697$3,330,637$10,440,015
79$11,103,140$4,501,241$3,394,259$11,428,183
80$12,186,196$4,672,337$3,458,502$12,514,796
81$13,378,165$4,850,259$3,523,340$13,709,824
82$14,690,108$5,035,292$3,588,742$15,024,247
83$16,134,212$5,227,733$3,654,677$16,470,169
84$17,723,904$5,427,894$3,721,110$18,060,921
85$19,473,980$5,636,099$3,788,006$19,811,193
86$21,400,745$5,852,687$3,855,323$21,737,171
87$23,522,163$6,078,011$3,923,018$23,856,690
88$25,858,029$6,312,439$3,991,045$26,189,399
89$28,430,158$6,556,358$4,059,355$28,756,951
90$31,262,583$6,810,169$4,127,892$31,583,202
91$34,381,791$7,074,292$4,196,601$34,694,440
92$37,816,967$7,349,165$4,265,420$38,119,631
93$41,600,270$7,635,246$4,334,284$41,890,691
94$45,767,138$7,933,014$4,403,123$46,042,790
95$50,356,621$8,242,967$4,471,863$50,614,679
96$55,411,750$8,565,626$4,540,425$55,649,061
97$60,979,944$8,901,537$4,608,724$61,192,988
98$67,113,453$9,251,267$4,676,671$67,298,311
99$73,869,857$9,615,411$4,744,171$74,022,161
100$81,312,605$9,994,589$4,811,124$81,427,496